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So use QBI for your trading business, but don't file until Oct. 15th so that you can wait and see if the IRS clarifies this issue.

I think there are separate rules for people who work in the financial industry. I would think Question 4 on that list is meant to cover that.

I was very skeptical to about how I was supposed to be classified (see previous thread), but it comes down to the fact that a sole proprietorship is forced upon you by IRS code in order to fill out Schedule C. But in the eyes of the exchanges, you are just an individual trader and have no...

Questions 5. and 8. are ambiguous when it comes to trading a personal account to make a living. Under IRS rules, if I qualify and declare trader tax status, then I report expenses as a business. The default business is a sole proprietorship. Does a sole proprietorship check the box for either 5...

Yes, this would be feasible depending on the email provider and tools available to access those emails. For example, if it is a gmail account, then there are libraries that exist for sending and reading emails via automation. For .NET, there is this...

I am pretty sure Robinhood is US only right now. You can buy ADRs.

Yes. Although they sell your orderflow to the highest bidder. If you only want to buy 1 share at a time, it seems like an obvious choice. Or other places that give some free commissions based on account size (Merrill Edge comes to mind).

Robinhood makes it cost effective.

I think the IB TWS comes pre-packaged with a specific Java version nowadays. So you don't have to have a Java install for TWS to work.

Either your calculation is incorrect or your broker's calculation is incorrect. Figure out why there is a difference and you'll have a better of understanding how to proceed. If you were flat for a month over the year boundary on the position you have a wash sale in, then you can essentially...

I wouldn't trust anyone to do my taxes properly.

When you log into your account and go to Reports --> Tax, is there a dividend summary that you can download on that page? It has been my experience that the dividend activity on daily reports or flex statements does not match with the dividend summary and that the summary should be relied on in...

Long time Windows fan here and Windows 10 is annoying enough that I'm going to make the move to Linux. It won't be a painless process, but I've reached a breaking point with Windows and how they treat their customers like babies. I believe Windows 10 has gotten worse over time as they force...

Professional data fees are not a small cost. My preference is to not form an entity, and pay non-professional data fees. The income I earn from trading is considered unearned income and does not incur social security taxes. However, that means I won't get any social security benefits...

I switched to tiered after I wrote a program to analyze all my past trades and figure out which commission structure was better. It certainly was not obvious to me that tiered was better before I did this. I don't do a lot of volume and I sometimes take liquidity and sometimes offer it. But...

Not a tax expert, but I'm almost positive that interest does not qualify for QBI. That doesn't seem to make logical sense.

Not a tax expert. Here is my opinion. If you stop trading and shut down your trading business completely, then it seems like you would be entitled to write off all the losses under your business. However, if you continue to trade after this blowout and you don't trade enough to qualify for...

Assuming you qualify for trader tax status and you are constantly trading the same symbols over and over, then mark-to-market accounting is very nice compared to dealing with wash sales. Being able to write off expenses as business expenses is pretty nice too if you are paying a lot in data fees.

I am not a tax professional. If I am reading this correctly, it appears that you paid more than 110% in estimated taxes in 2018 compared to your 2017 tax liability. This should mean you qualify for safe harbor. If your income is lumpy throughout the year, you can use the annualization method...

https://www.bogleheads.org/forum/viewtopic.php?t=124124